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Vivendi preparing to sell their entertainment arm, including Sci Fi
by Dani Moure - Sunday, March 2nd 2003

Category: Old News

According to NY Daily News, a decision will be made this Thursday regarding the sale of Vivendi.

A board meeting is likely top decide whether to go with a bid of $20 billion for its entertainment assets from Marvin Davis, an oil tycoon, a deal with Barry Diller, or sell of its assets in pieces.

There are several buyers interested in certain parts of its entertainment arm, Vivendi Universal Entertainment. On Friday, word spread that Viacom may bid for Sci Fi and USA Network, which Vivendi are apparently insisting be sold as a package. This backs up previous reports from Viacom executives that they would like to add Sci Fi to Viacom's stable of cable channels (which includes MTV, VH1 and Nickelodeon). Media analysts say that Viacom would have to offer $7 billion to $8 billion for USA Network and $2 to $3 billion for Sci Fi.

Apparently, Davis is ready to walk away from his offer for the entire Vivendi Universal Entertainment arm if a decision on the bid is not made this week. Barry Diller is allegedly against the sale to Davis, as they have clashed heads in the past (Diller owns a 1.5% stake in Vivendi, and his company, USA Interactive, owns a further 5.4% stake).

How this may affect Sci Fi and therefore Farscape is unclear, but the enthusiasm Viacom appear to have if they buy Sci Fi would likely be a good thing.

You can read the full article here.

Thanks to Brainstorms for the link.

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